Explores the role of eliminating fear in Epicurean ethics and physics, focusing on techniques to eliminate the fear of death and the fear of the gods. Includes a taxonomy of types of fear and types of therapy for fear.

The few people familiar with the pseudo-Platonic dialogue Axiochus generally have a low opinion of it. It's easy to see why: the dialogue is a mish-mash of Platonic, Epicurean and Cynic arguments against the fear of death, seemingly tossed together with no regard whatsoever for their consistency. As Furley notes, the Axiochus appears to be horribly confused. Whereas in the Apology Socrates argues that death is either annihilation or a relocation of the soul, and is a blessing either way, "the (...) Socrates of the Axiochus wants to have it both ways": death is both annihilation and a release of the soul from the body into a better realm. This may be used to construct a valid argument for the conclusion that death is not evil, but at the expense of having a contradiction as one of its premises. But D. S. Hutchinson has recently proposed that these inconsistencies shouldn't surprise us if we view the Axiochus as "an unconventional version of a very conventional genre--the consolation letter." In this paper I expand on Hutchinson's brief suggestion and argue that the Axiochus can be rehabilitated by paying attention to its genre. Although the Axiochus does display many similarities to the consolation letter, the shift from letter to dialogue does--pace Hutchinson--significantly affect what's going on. Within the dialogue, Socrates behaves toward Axiochus in a way similar to the way the author of a consolation letter behaves towards the letter's reader: he is willing to use inconsistent arguments, borrowed from any source, in order to soothe the patient. However, in depicting this type of consolatory relationship between Socrates and Axiochus, the dialogue itself is not aiming at consoling its readers. Instead, it should be seen as displaying for the reader's consideration a certain type of consolatory argumentative practice. -/- Socrates notes that Axiochus is "very much in need of consolation" (365a), and he uses any means necessary to accomplish this task. Socrates exhibits many ways in which he is willing to sacrifice argumentative hygiene for the sake of therapeutic effectiveness. These include: -/- * Use of arguments with inconsistent premises, presented in propria persona. * Appeals to emotion * Tailoring arguments to the audience. * Presenting invalid arguments so as to induce unjustified but comforting beliefs. * Evasion. In these respects, I think that Socrates' argumentative practice is best compared to PH III 280-1, where Sextus Empiricus says that the skeptic will deliberately use logically weak arguments as long as they work. Dorothy Tarrant claims that what links the Socrates of the Axiochus to Socrates as he appears elsewhere in the Platonic corpus is his evident care for the welfare of his interlocutor's psyche. But this concern takes a quite different form in the Axiochus than it usually does. As with Sextus, psychic therapy in the Axiochus involves relief from pain. The primary difference between them is that Socrates, unlike Sextus, is not aiming at producing epochê in his patient. (shrink)

Unlike mainstream Cyrenaics, the Annicereans deny that friendship is chosen only because of its usefulness. Instead, the wise person cares for her friend and endures pains for him because of her goodwill and love. Nonetheless, the Annicereans maintain that your own pleasure is the telos and that a friend’s happiness isn’t intrinsically choiceworthy. Their position appears internally inconsistent or to attribute doublethink to the wise person. But we can avoid these problems. We have good textual grounds to attribute to the (...) Annicereans a doctrine of “non-hedonic habits,” which allows them to abandon psychological hedonism while still maintaining hedonism regarding well-being. (shrink)

Appeals to nature are ubiquitous in Epicurean ethics and politics. The foundation of Epicurean ethics is its claim that pleasure is the sole intrinsic good and pain the sole intrinsic evil, and this is supposedly shown by the behavior of infants who have not yet been corrupted, "when nature's judgement is pure and whole." Central to their recommendations about how to attain pleasure is their division between types of desires: the natural and necessary ones, the natural but non-necessary ones, and (...) the vain and empty ones. Elsewhere, the Epicureans talk about the "natural goods" of political power and fame, and they contrast "natural wealth" with wealth as "defined by empty opinion." Finally, in their politics, Epicurus claims that the "the justice of nature is a pledge of reciprocal usefulness, [i.e.,] neither to harm one another nor to be harmed." This paper explores two questions regarding these various appeals to nature. The first is: what is it for these things to be natural, i.e., what notion of "natural" or "nature" is at play here? (Furthermore, is there a single notion being used across these appeals, and if not, how are they related?) The second is: what normative work does a thing's being natural do? That is, what reason, if any, does a desire's being natural give me for pursuing the object of that desire and trying to fulfill that desire, as opposed to not doing so and trying to eliminate it, and similarly for the other appeals to nature? (shrink)

The Cyrenaics assert that (1) particular pleasure is the highest good, and happiness is valued not for its own sake, but only for the sake of the particular pleasures that compose it; (2) we should not forego present pleasures for the sake of obtaining greater pleasure in the future. Their anti-eudaimonism and lack of future-concern do not follow from their hedonism. So why do they assert (1) and (2)? After reviewing and criticizing the proposals put forward by Annas, Irwin and (...) Tsouna, I offer two possible reconstructions. In the first reconstruction, I explain claim (1) as follows: happiness has no value above and beyond the value of the particular pleasures that compose it. Also, there is no "structure" to happiness. The Cyrenaics are targeting the thesis that happiness involves having the activities of one's life forming an organized whole, the value of which cannot be reduced to the value of the experiences within that life. I explain claim (2) as follows: a maximally pleasant life is valuable, but the best way to achieve it is to concentrate heedlessly on the present. In the second reconstruction, the good is radically relativized to one's present preferences. The Cyrenaics assert that we desire some particular pleasure, e.g., the pleasure that results from having this drink now. Thus, our telos -- which is based upon our desires -- is this particular pleasure, not (generic) 'pleasure' or the maximization of pleasure over our lifetime. As our desires change, so does our telos. I conclude that the scanty texts we have do not allow us to decide conclusively between these reconstructions, but I give some reasons to support the second over the first. (shrink)

Epicurus is strongly committed to psychological and ethical egoism and hedonism. However, these commitments do not square easily with many of the claims made by Epicureans about friendship: for instance, that the wise man will sometimes die for his friend, that the wise man will love his friend as much as himself, feel exactly the same toward his friend as toward himself, and exert himself as much for his friend's pleasure as for his own, and that every friendship is worth (...) choosing for its own sake. These claims have led some scholars to assert that Epicurus inconsistently affirms that friendship has an altruistic element. I argue that the Epicurean claims about friendship can be reconciled with egoism and hedonism in psychology and ethics. Friendship is valuable because having friends provides one with security more effectively than any other means, and having confidence that one will be secure in the future either is identical to ataraxia, or the grounds on which one has it. (shrink)

Encyclopedia entry on Epicurus' theology. It considers the negative side of Epicurean theology and its basis in their physics, the Epicureans’ positive view of the nature of the gods and how they use it to critique popular religion, and the psychological benefits that they claim result from having correct views about the gods.

Overview of the Stoic position. Looks at the roots of their determinism in their theology, their response to the 'lazy argument' that believing that all things are fated makes action pointless, their analysis of human action and how it allows actions to be 'up to us,' their rejection of the Principle of Alternate Possibilities, their rejection of anger and other negative reactive attitudes, and their contention that submission to god's will brings true freedom.

Anaxarchus accompanied Pyrrho on Alexander the Great’s expedition to India and was known as “the Happy Man” because of his impassivity and contentment. Our sources on his philosophy are limited and largely consist of anecdotes about his interactions with Pyrrho and Alexander, but they allow us to reconstruct a distinctive ethical position. It overlaps with several disparate ethical traditions but is not merely a hodge-podge; it hangs together as a unified whole. Like Pyrrho, he asserts that things are indifferent in (...) value and that realizing this indifference leads to contentment. But this doctrine of indifference is rooted in Democritean atomism. And in his pursuit of pleasure and dismissiveness of conventional standards of what is just, noble, and pious, Anaxarchus is closer to fifth century thinkers such as Aristippus, Antiphon, and Critias. (shrink)

Brief overview of the ethics of the Cyrenaics.

In Outlines of Pyrrhonism, Sextus Empiricus takes pains to differentiate the skeptical way of life from other positions with which it is often confused, and in the course of this discussion he briefly explains how skepticism differs from Cyrenaicism. Surprisingly, Sextus does not mention an important apparent difference between the two. The Cyrenaics have a positive epistemic commitment--that we can apprehend our own affections. Although we cannot know whether the honey is really sweet, we can know infallibly that right now (...) we are being sweetened. By contrast, Sextus says explicitly that, as skeptics, Pyrrhonists apprehend nothing whatsoever. A case can (and has) been made that Sextus does not mention this difference because, on this matter, there really isn't an important difference between the two: the skeptic is perfectly able to report how things appear to him, e.g., that the honey seems sweet, and it is crucial for the skeptic that he not abolish the appearances. But, I argue, what the skeptics are doing when they report how things appear to them is importantly different from the sort of immediate, infallible apprehension of one's own affections claimed by the Cyrenaics, as the latter involves theoretical commitments regarding the nature of one's affections that the skeptic eschews. (shrink)

Epicurus thought that the conventional values of Greek society—in particular, its celebration of luxury and wealth—often led people astray. It is by rejecting these values, reducing our desires, and leading a moderately ascetic life that we can attain happiness. But Epicurus’ message is also pertinent for those of us in modern Western culture, with an economy based on constant consumption and an advertising industry that molds us to serve that economy by enlarging our desires. This paper begins with an outline (...) of some of the basic tenets of Epicurean ethics, followed by an explanation of how these tenets lead to an Epicurean diagnosis of what ails modern consumers and of the cure they would propose. The paper closes with a consideration of recent psychological research in well-being and how it supports the Epicurean position. (shrink)

The first part of this paper looks into the question of Lucretius’ philosophical sources and whether he draws almost exclusively from Epicurus himself or also from later Epicurean texts. I argue that such debates are inconclusive and likely will remain so, even if additional Epicurean texts are discovered, and that even if we were able to ascertain Lucretius’ philosophical sources, doing so would add little to our understanding of the De Rerum Natura. The second part of the paper turns to (...) a consideration of what Lucretius does with his philosophical sources. The arguments within the De Rerum Natura are not original. Nonetheless, the way Lucretius presents these arguments establishes him as a distinctive philosopher. Lucretius deploys non-argumentative methods of persuasion such as appealing to emotions, redeploying powerful cultural tropes, and ridicule. These methods of persuasion do not undercut or displace reasoned argumentation. Instead, they complement it. Lucretius’ use of these methods is rooted in his understanding of human psychology, that we have been culturally conditioned to have empty desires, false beliefs, and destructive emotions, ones that are often subconscious. Effective persuasion must take into account the biases, stereotypes, and other psychological factors that hinder people from accepting Epicurus’ healing gospel. (shrink)

This paper focuses on two questions: (I) why do the Cyrenaics deny that we can gain knowledge concerning "external things," and (II) how wide-ranging is this denial? On the first question, I argue that the Cyrenaics are skeptical because of their contrast between the indubitable grasp we have of own affections, versus the inaccessibility of external things that cause these affections. Furthermore, this inaccessibility is due to our cognitive and perceptual limitations--it is an epistemological doctrine rooted in their psychology--and not (...) (pace Zilioli) due to any metaphysical theses regarding the external world. On the second question, I argue (pace Tsouna and Warren) that the scope of the Cyrenaics' skepticism is quite wide. Our reports on the Cyrenaics are inconsistent, but the most charitable and plausible reading results in attributing to the Cyrenaics skepticism not merely about the properties of external things (e.g., that the fire that warms me is really hot) of also of their nature and identity (e.g., that the object that warms me is a fire). However, it does not extend to skepticism regarding the existence of an external world. (shrink)

The Epicureans advocate a moderately ascetic lifestyle on instrumental grounds, as the most effective means to securing tranquility. The virtuous person will reduce his desires to what is natural and necessary in order to avoid the trouble and anxiety caused by excessive desire. So much is clear from Epicurus' general ethics. But the later Epicurean Philodemus fills in far more detail about the attitude a wise Epicurean will take toward wealth in his treatise On Property Management. This paper explores some (...) of Philodemus' distinctive doctrines and argues that Philodemus' position on crafts is an improvement on the Socratic and Aristotelian positions that he is reacting against. Philodemus rejects both constraints on what counts as a genuine craft proposed by Socrates in the Gorgias: that a craft aims at a genuine good, and that it is based on a grasp of the nature of its subject. Philodemus also rejects the attempts of Xenophon and Theophrastus to preserve an important place for the craft of property management, conceived of as aiming at maximizing your wealth, within the Socratic and Aristotelian ethical tradition that puts virtue and virtuous activity at the center of the happy life. According to Philodemus, cultivating and exercising the traditional technê of property management is actually incompatible with being a virtuous person and obtaining happiness. (shrink)

Focuses on the theories of the Epicureans and Cyrenaics in light of Plato's and Aristotle's criticisms of hedonism. Closes with a brief discussion of how the Pyrrhonian skeptical conception of the telos compares to the Epicureans'.

What is distinctive about Lucretius’s version of Epicureanism? The answer might appear to be “nothing,” for two reasons. First, Epicureanism in general is doctrinally conservative, with followers of Epicurus claiming to follow his authority. Second, Lucretius claims to be merely transmitting the arguments of his beloved master Epicurus in a pleasing manner. I argue that these considerations do not prevent De Rerum Natura from presenting a distinct version of Epicureanism. Its arguments in physics are almost certainly drawn from Epicurus himself. (...) But in the examples Lucretius uses to illustrate these arguments, as well as in his descriptions of things like the fear of death and the formation of society, Lucretius delivers unexpected insights into human psychology, ones not clearly present in the other sources we have on Epicureanism. Furthermore, the way in which Lucretius presents his arguments can rightly be considered original philosophically and not just poetically. (shrink)

In De Rerum Natura III 963-971, Lucretius argues that death should not be feared because it is a necessary part of the natural cycle of life and death. This argument has received little philosophical attention, except by Martha Nussbaum, who asserts it is quite strong. However, Nussbaum's view is unsustainable, and I offer my own reading. I agree with Nussbaum that, as she construes it, the cycle of life argument is quite distinct from the better-known Epicurean arguments: not only does (...) it start from different premises, but it is a completely different type of argument. However, thus construed, it is deeply problematic. It relies on premises that are much more at home in Stoic than in Epicurean ethics, and Lucretius' appeal to nature in this argument contradicts what he says elsewhere in De Rerum Natura. I consider why Lucretius offers what appears to be such a flawed argument, and I propose a reading on which the cycle of life argument could be offered consistently by an Epicurean. The cycle of life argument, unlike the better-known arguments, does not attempt directly to show that death is not a bad thing. Instead, it targets certain destructive attitudes towards one's life that result in one fearing death. By helping relieve the interlocutor of these attitudes, the argument aims at reducing his fear of death. (shrink)

David Furley's work on the cosmologies of classical antiquity is structured around what he calls "two pictures of the world." The first picture, defended by both Plato and Aristotle, portrays the universe, or all that there is (to pan), as identical with our particular ordered world-system. Thus, the adherents of this view claim that the universe is finite and unique. The second system, defended by Leucippus and Democritus, portrays an infinite universe within which our particular kosmos is only one of (...) countless kosmoi. Aristotle's argument in De caelo I.9 that the world is necessarily unique is an important contribution to this debate. This argument holds interest because it shows Aristotle wrestling with an apparent inconsistency in his own philosophy, as deeply-held convictions within his cosmology collide with an equally deeply-held conviction within his metaphysics. The following three principles, each of which Aristotle appears committed to, are inconsistent: -/- The cosmic uniqueness principle. The world is necessarily unique. The cosmic form principle. The world is an ordered, structured unity. As such, the world has a form. The possibility of multiple instantiation principle. For all F, if F is a form, it is possible that there exist multiple Fs. In De caelo I.9, Aristotle argues that we can establish the uniqueness of the universe, reject the multiple instantiation principle, yet still retain the distinction between 'this world' and 'world in general,' if the following is true (as it is): the world takes up all the matter that exists. Aristotle illustrates this argument with one of the stranger analogies in his corpus: imagine an aquiline nose that takes up all the flesh in the universe. If this were so, then there could not exist any other aquiline objects whatsoever. (For this reason, we dub the De caelo I.9 argument the 'Cosmic Nose argument.') This paper is an interpretation of how this argument is supposed to proceed and an assessment of its success. The first section states the problem Aristotle is confronted with, sorts through Aristotle's various statements of the Cosmic Nose argument, which exhibit some sloppiness, and reconstructs charitably a single argument. We also spend some time examining the significance of Aristotle's example of a gigantic aquiline nose. We argue that, even charitably reconstructed, the argument appears to commit a serious modal fallacy. The remainder of the paper explores whether this modal fallacy can be overcome. We conclude that, although not a cogent argument for the uniqueness of the world (as this would require a significant revision of our current astronomy), the Cosmic Nose argument does succeed on its own terms. However, it should not be regarded as a free-standing argument for the uniqueness of the world. Instead, it depends crucially on the earlier argument in De caelo I.8 for the universe's uniqueness; De caelo I.9 should be viewed as an attempt to extend the conclusion of De caelo I.8 and to show how this conclusion can be made consistent with Aristotle's metaphysical principles about the nature of form. (shrink)

Overview of Epicurean physics and epistemology, ending with a critical discussion of Cicero's report on Epicurean theology.

Titus Lucretius Carus was an ardent disciple of Epicurus and the author of the De Rerum Natura, one of the greatest poems in Latin. Other than his approximate dates of birth and death, we have next to no reliable information about him. Because of his family name and his apparent familiarity with Roman upper-class mores, it is thought that Lucretius was probably a member of the aristocratic clan of the Lucretii, but this is not certain. And so any insight we (...) wish to gain into the thought and personality of Lucretius must come from the De Rerum Natura itself. (shrink)

Positive review of Sellars' short introduction to Epicureanism considered as a way of life.

One striking oddity about Democritus and Epicurus is that, even though Epicurus' theory of perception is largely the same as that of Democritus, Democritus and his followers draw skeptical conclusions from this theory of perception, whereas Epicurus declares that all perceptions are true or real. I believe that the dispute between Democritus and Epicurus stems from a question over what sort of ontological status should be assigned to sensible qualities. In this paper, I address three questions: 1) Why were Democritus (...) and his followers skeptical? 2) How did Epicurus modify Democritus' metaphysics in order to avoid these skeptical conclusions? and 3) How successful was he? -/- 1) I argue that Democritus allows only the intrinsic properties of atoms into his ontology, and then runs into skeptical difficulties because of the relativity of perception. 2) I propose that Epicurus modifies Democritus' ontology by allowing dispositional and relational properties as real properties of bodies. Sensible qualities are conceptualized as dispositional properties of bodies to cause certain experiences in percipients. 3) I argue that Epicurus does not run into the same problems as Democritus. Finally, I consider how my interpretation of Epicurus' ontology helps to make sense of his claim that all perceptions are alethes--'true' or 'real.'. (shrink)

This collection brings together fourteen contributions by authors from around the globe. Each of the contributions engages with questions about how local and global bioethical issues are made to be comparable, in the hope of redressing basic needs and demands for justice. These works demonstrate the significant conceptual contributions that can be made through feminists' attention to debates in a range of interrelated fields, especially as they formulate appropriate responses to developments in medical technology, global economics, population shifts, and poverty.

Mục đích nghiên cứu Tìm hiểu thực trạng sản phẩm lưu niệm phục vụ du lịch tại một số tuyến điểm du lịch trên địa bàn thành phố Hải Phòng. Hệ thống lại các mặt hàng sản phẩm lưu niệm của Hải Phòng. Bước đầu đề ra những định hướng, giải pháp cho phát triển sản phẩm lưu niệm của thành phố.

Giải quyết biến đổi khí hậu và ô nhiễm môi trường đang và sẽ là thách thức lớn của nhân loại trong thế kỷ 21. Con người không còn nhiều thời gian để sửa chữa, phục hồi đưa hệ sinh thái môi trường (tự nhiên) trở về trạng thái an toàn. Trong khi các nỗ lực trong thời gian qua chưa thực sự hiệu quả thì COP26 mở ra cơ hội lớn để nhân loại tiến gần đến mục tiêu kiềm (...) chế nhiệt độ của trái đất không vượt quá 1.5 độ C. Mặc dù Việt Nam cùng với 146 quốc gia trên thế giới đã có cam kết mạnh mẽ nhất trong việc giảm phát thải vào năm 2050, tuy nhiên việc cụ thể hóa cam kết thông qua các giải pháp sáng tạo là rất quan trọng. Sử dụng (áp dụng, vận dụng) hệ sáng tạo 3D và nguyên lý bán dẫn giá trị, tác giả đề xuất hệ sinh thái “giải pháp trụ cột” cần thực hiện gồm có tăng cường thông tin, truyền thông, nghiên cứu khoa học về môi trường (biến đổi khí hậu, ô nhiễm môi trường...); xây dựng, chuyển đổi và nâng cao văn hóa và môi trường; đẩy mạnh phát triển kinh tế gia tăng phúc lợi; xây dựng (chuyển đổi) lớp doanh nhân có văn hóa, trách nhiệm môi trường; tăng cường mở rộng sự hợp tác quốc tế về mọi mặt đặc biệt là trong lĩnh vực kinh tế, truyền thông và khoa học; và thực thi các giải pháp nêu trên một cách kỷ luật. (shrink)

Sự liên thông giữa các bất động sản, vốn và tiền tệ đang được nhắc tới nhiều, nhưng đó mới chỉ là sự hiểu biết trực giác.

Trong bài phiếm luận của mình trên trang The Westwood Enabler, ông Al Gore viết: “The collective foot pollution, caused mostly by Olympic athletes, is killing us slowly, but something else is killing us at an even faster rate. Our assprints. [...] Our feet are big but not as big as our asses.” Ông ấy ám chỉ đến “assprint” thật, ý là ăn nhiều, mông to, rồi đi tập gym cho tăng trưởng cơ mông. Ý ông ấy nói tới sự (...) thực người ta tham gia phát thải oách, do những hoạt động và mong muốn thỏa mãn bản thân. Quá trình ấy có tác động tiêu cực đến môi sinh, chẳng qua là còn thiếu đo đếm chi tiết mà thôi. (shrink)

Sự liên thông giữa các bất động sản, vốn và tiền tệ đang được nhắc tới nhiều, nhưng đó mới chỉ là sự hiểu biết trực giác.

This paper presents a Least Square Monte Carlo approach for accurately calculating credit value adjustment (CVA). In contrast to previous studies, the model relies on the probability distribution of a default time/jump rather than the default time itself, as the default time is usually inaccessible. As such, the model can achieve a high order of accuracy with a relatively easy implementation. We find that the valuation of a defaultable derivative is normally determined via backward induction when their payoffs could be (...) positive or negative. Moreover, the model can naturally capture wrong or right way risk. (shrink)

This paper criticises the cosmological argument that Tim O'Connor provides in his book *Theism and Ultimate Explanation*.

Studie se zabývá tím, jak se v českých zemích obráželo bouřlivé období vývoje biologického myšlení od přelomu 19. a 20. století do první světové války, kdy vedle sebe existovaly velmi různé názory na evoluci. Mnohovrstevnatost teoretickou přitom doplňuje i kulturní a vědecká mnohovrstevnatost českých zemí, kde se jednak mísí vlivy německé a české biologie na svých autonomních institucích, a jednak lze spatřovat rozdíly i mezi lokálními centry Prahou a Brnem se svými badatelskými tradicemi a nezávislými vazbami na další centra ve (...) Vídni a evropských univerzitách. Centrem zájmu jsou teoreticky uvažující biologové, kteří buď sami dlouhodobě profilovali české biologické myšlení, anebo na něj měli díky zdejšímu působení přímý vliv. V letech ca 1900–1915 došlo k prvnímu otevřenému a diskutovanému vrcholu v české recepci evolucionismu a před jednoznačnými pozicemi a „velkými teoriemi“ má navrch spíše prostředkování diferencované zahraniční diskuse, podněty vlastní experimentální práce a opatrné očekávání od nového studia variability a dědičnosti. (shrink)

This chapter is a critical discussion of the third chapter of Tim O'Connor's *Theism and Ultimate Explanation*. In this chapter, O'Connor advances the 'existence stage' of his cosmological argument from contingency. I argue that naturalists have good reason to think that on each of the live hypotheses -- infinite regress, brute contingency, brute necessity -- naturalism is preferable to theism.

By definition, pain is a sensory and emotional experience that is felt in a particular part of the body. The precise relationship between somatic events at the site where pain is experienced, and central processing giving rise to the mental experience of pain remains the subject of debate, but there is little disagreement in scholarly circles that both aspects of pain are critical to its experience. Recent experimental work, however, suggests a public view that is at odds with this conceptualisation. (...) By demonstrating that the public does not necessarily endorse central tenets of the “mental” view of pain (subjectivity, privacy, and incorrigibility), experimental philosophers have argued that the public holds a more “body-centric” view than most clinicians and scholars. Such a discrepancy would have important implications for how the public interacts with pain science and clinical care. In response, we tested the hypothesis that the public is capable of a more “mind-centric” view of pain. Using a series of vignettes, we demonstrate that in situations which highlight mental aspects of pain the public can, and does, recognize pain as a mental phenomenon. We also demonstrate that the public view is subject to context effects, by showing that the public’s view is modified when situations emphasizing mental and somatic aspects of pain are presented together. (shrink)

This article presents a comprehensive framework for valuing financial instruments subject to credit risk. In particular, we focus on the impact of default dependence on asset pricing, as correlated default risk is one of the most pervasive threats in financial markets. We analyze how swap rates are affected by bilateral counterparty credit risk, and how CDS spreads depend on the trilateral credit risk of the buyer, seller, and reference entity in a contract. Moreover, we study the effect of collateralization on (...) valuation, since the majority of OTC derivatives are collateralized. The model shows that a fully collateralized swap is risk-free, whereas a fully collateralized CDS is not equivalent to a risk-free one. (shrink)

This paper attempts to assess the economic significance and implications of collateralization in different financial markets, which is essentially a matter of theoretical justification and empirical verification. We present a comprehensive theoretical framework that allows for collateralization adhering to bankruptcy laws. As such, the model can back out differences in asset prices due to collateralized counterparty risk. This framework is very useful for pricing outstanding defaultable financial contracts. By using a unique data set, we are able to achieve a clean (...) decomposition of prices into their credit risk factors. We find empirical evidence that counterparty risk is not overly important in credit-related spreads. Only the joint effects of collateralization and credit risk can sufficiently explain unsecured credit costs. This finding suggests that failure to properly account for collateralization may result in significant mispricing of financial contracts. We also analyze the difference between cleared and OTC markets. (shrink)

The incremental risk charge (IRC) is a new regulatory requirement from the Basel Committee in response to the recent financial crisis. Notably few models for IRC have been developed in the literature. This paper proposes a methodology consisting of two Monte Carlo simulations. The first Monte Carlo simulation simulates default, migration, and concentration in an integrated way. Combining with full re-valuation, the loss distribution at the first liquidity horizon for a subportfolio can be generated. The second Monte Carlo simulation is (...) the random draws based on the constant level of risk assumption. It convolutes the copies of the single loss distribution to produce one year loss distribution. The aggregation of different subportfolios with different liquidity horizons is addressed. Moreover, the methodology for equity is also included, even though it is optional in IRC. (shrink)

The one-side defaultable financial derivatives valuation problems have been studied extensively, but the valuation of bilateral derivatives with asymmetric credit qualities is still lacking convincing mechanism. This paper presents an analytical model for valuing derivatives subject to default by both counterparties. The default-free interest rates are modeled by the Market Models, while the default time is modeled by the reduced-form model as the first jump of a time-inhomogeneous Poisson process. All quantities modeled are market-observable. The closed-form solution gives us a (...) better understanding of the impact of the credit asymmetry on swap value, credit value adjustment, swap rate and swap spread. (shrink)

This article presents a new model for valuing financial contracts subject to credit risk and collateralization. Examples include the valuation of a credit default swap (CDS) contract that is affected by the trilateral credit risk of the buyer, seller and reference entity. We show that default dependency has a significant impact on asset pricing. In fact, correlated default risk is one of the most pervasive threats in financial markets. We also show that a fully collateralized CDS is not equivalent to (...) a risk-free one. In other words, full collateralization cannot eliminate counterparty risk completely in the CDS market. (shrink)

Standard Type Theory, STT, tells us that b^n(a^m) is well-formed iff n=m+1. However, Linnebo and Rayo have advocated the use of Cumulative Type Theory, CTT, has more relaxed type-restrictions: according to CTT, b^β(a^α) is well-formed iff β > α. In this paper, we set ourselves against CTT. We begin our case by arguing against Linnebo and Rayo’s claim that CTT sheds new philosophical light on set theory. We then argue that, while CTT ’s type-restrictions are unjustifiable, the type-restrictions imposed by (...) STT are justified by a Fregean semantics. What is more, this Fregean semantics provides us with a principled way to resist Linnebo and Rayo’s Semantic Argument for CTT. We end by examining an alternative approach to cumulative types due to Florio and Jones; we argue that their theory is best seen as a misleadingly formulated version of STT. (shrink)

Tim Button explores the relationship between words and world; between semantics and scepticism. -/- A certain kind of philosopher – the external realist – worries that appearances might be radically deceptive. For example, she allows that we might all be brains in vats, stimulated by an infernal machine. But anyone who entertains the possibility of radical deception must also entertain a further worry: that all of our thoughts are totally contentless. That worry is just incoherent. -/- We cannot, then, be (...) external realists, who worry about the possibility of radical deception. Equally, however, we cannot be internal realists, who reject all possibility of deception. We must position ourselves somewhere between internal realism and external realism, but we cannot hope to say exactly where. We must be realists, for what that is worth, and realists within limits. -/- In establishing these claims, The Limits of Realism critically explores and develops several themes from Hilary Putnam’s work: the model-theoretic arguments; the connection between truth and justification; the brain-in-vat argument; semantic externalism; and conceptual relativity. The book establishes the continued significance of these topics for all philosophers interested in mind, logic, language, or the possibility of metaphysics. (shrink)

The phenomenal character of perceptual experience involves the representation of colour, shape and motion. Does it also involve the representation of high-level categories? Is the recognition of a tomato as a tomato contained within perceptual phenomenality? Proponents of a conservative view of the reach of phenomenal content say ’No’, whereas those who take a liberal view of perceptual phenomenality say ’Yes’. I clarify the debate between conservatives and liberals, and argue in favour of the liberal view that high-level content can (...) directly inform the phenomenal character of perception. (shrink)

Much recent discussion has focused on the nature of artifacts, particularly on whether artifacts have essences. While the general consensus is that artifacts are at least intention-dependent, an equally common view is function essentialism about artifacts, the view that artifacts are essentially functional objects and that membership in an artifact kind is determined by a particular, shared function. This paper argues that function essentialism about artifacts is false. First, the two component conditions of function essentialism are given a clear and (...) precise formulation, after which counterexamples are offered to each. Second, ways to handle the counterexamples suggested by Randall Dipert and Simon Evnine are considered and rejected. Third, I then consider the prospects for restricting function essentialism to so-called technical artifacts, as Lynne Baker does, and argue that this, too, fails. This paper thereby consolidates the scattered literature on function essentialism and shows that, despite the seeming plausibility of the thesis, it should be rejected as an account of artifact essences. (shrink)

In “Models and Reality” (1980), Putnam sketched a version of his internal realism as it might arise in the philosophy of mathematics. Here, I will develop that sketch. By combining Putnam’s model-theoretic arguments with Dummett’s reflections on Gödelian incompleteness, we arrive at (what I call) the Skolem-Gödel Antinomy. In brief: our mathematical concepts are perfectly precise; however, these perfectly precise mathematical concepts are manifested and acquired via a formal theory, which is understood in terms of a computable system of proof, (...) and hence is incomplete. Whilst this might initially seem strange, I show how internal categoricity results for arithmetic and set theory allow us to face up to this Antinomy. This also allows us to understand why “Models are not lost noumenal waifs looking for someone to name them,” but “constructions within our theory itself,” with “names from birth.”. (shrink)

I defend the intention-dependence of artifacts, which says that something is an artifact of kind K only if it is the successful product of an intention to make an artifact of kind K. I consider objections from two directions. First, that artifacts are often mind- and intention-dependent, but that this isn’t necessary, as shown by swamp cases. I offer various error theories for why someone would have artifact intuitions in such cases. Second, that while artifacts are necessarily mind-dependent, they aren’t (...) necessarily intention-dependent. I consider and reject three kinds of cases which purport to show this: accidental creation, automated production, and mass production. I argue that intentions are present in all of these cases, but not where we would normally expect. (shrink)

Universals are putative objects like wisdom, morality, redness, etc. Although we believe in properties (which, we argue, are not a kind of object), we do not believe in universals. However, a number of ordinary, natural language constructions seem to commit us to their existence. In this paper, we provide a fictionalist theory of universals, which allows us to speak as if universals existed, whilst denying that any really do.

Amie Thomasson and Eli Hirsch have both attempted to deflate metaphysics, by combining Carnapian ideas with an appeal to ordinary language. My main aim in this paper is to critique such deflationary appeals to ordinary language. Focussing on Thomasson, I draw two very general conclusions. First: ordinary language is a wildly complicated phenomenon. Its implicit ontological commitments can only be tackled by invoking a context principle; but this will mean that ordinary language ontology is not a trivial enterprise. Second: ordinary (...) language often points in different directions simultaneously, so that a wide variety of existence questions cannot be deflated merely by appealing to ordinary language. (shrink)

Abstract objects are standardly taken to be causally inert, however principled arguments for this claim are rarely given. As a result, a number of recent authors have claimed that abstract objects are causally efficacious. These authors take abstracta to be temporally located in order to enter into causal relations but lack a spatial location. In this paper, I argue that such a position is untenable by showing first that causation requires its relata to have a temporal location, but second, that (...) if an entity is temporally located then it is spatiotemporally located since this follows from the theory of Relativity. Since abstract objects lack a spatiotemporal location, then if something is causally efficacious, it is not abstract. (shrink)